Word: kreugered
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Dates: during 1930-1939
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Sweden's empire of matchwood and matchpaper seemed to be going last week where every kind of match goes sooner or later. Foreign auditors were prowling through the graceful, modernistic business palace where Ivar Kreuger had ruled as "The Match King" until he put a pistol to his heart. But it was in Sweden's Parliament that Sweden's woe last week found utterance. "We know now that the Kreuger Company broke down not because of bad luck or bad conditions but because of dishonesty," cried Deputy Arthur Endeberg. "Sweden's business reputation will be ruined...
Editor George Horace Lorimer of Saturday Evening Post was able to lead off his April 2 issue with an up-to-the-moment article?a "last talk" with the late Ivar Kreuger, recorded by his good friend & admirer, Isaac Frederick Marcosson, able tycoon interviewer. Although the "last talk" was an innocuous compendium of Herr Kreuger's views on international finance, its publication indirectly certified the aura of greatness surrounding the matchmaker and moneylender who had shot himself (TIME, March...
Last week Publisher Lorimer and Reporter Marcosson may have regretted their coup. For in one of the most smashing statements ever made by a firm of auditors, Ivar Kreuger was last week pronounced a crook, a swindler, a falsifier of books...
When in 1928 the famed Boston-born firm of Lee, Higginson prepared to issue millions of Kreuger securities to U. S. investors, it naturally demanded an audit of the Kreuger business. It was persuaded by Ivar Kreuger?one of the most charmingly persuasive men who ever lived ?that it was not necessary for a U. S. firm to audit his vast affairs. He had not only one but three great Swedish firms of auditors which over a period of years and throughout the civilized world had learned how to keep track of the globe-girdling assets and liabilities...
...Grand Hotel here is full of American observers, including a number of American brokers with whom Kreuger carried personal accounts. It is now known that Kreuger traded on six of the principal stock exchanges of the world, working through brokers who bought or sold gigantic blocks of stock for his account without mention of his name. It is even indicated that he bought such securities as oil stocks at times in order to bolster the market. He suffered gigantic losses in these operations and a large number of brokers who operated in his behalf are now seeking to collect what...